Aussie satisfaction in big data lags behind global results: Accenture

Accenture Analytics' latest research into big data projects finds Australian organisations are actively engaging in activities, yet aren't as satisfied or as strategic as their global counterparts in its value

Australian organisations are overwhelmingly satisfied with their big data activities, yet are lagging behind international counterparts when it comes to seeing data as a significant source of value, a new report claims.

The Accenture Analytics Big Success with Big Data report found 78 per cent of Australian executives surveyed are either ‘very satisfied’ or ‘satisfied’ with their results from applying big data to their business, and 70 per cent rated big data as ‘very important’ or ‘important’ to their businesses’ digital transformation.

However, both of these lagged behind the global survey results of 92 per cent and 89 per cent, respectively, Accenture stated. In addition, 94 per cent of global respondents reported that their implementation is meeting their needs, and 94 per cent said big data is being used to identify new sources of revenue.

Among the top uses cases in Australia are identifying new sources of revenue (86 per cent), retaining and acquiring customers (80 per cent) and developing new products and services (80 per cent).

Related: Westpac taps into new big data streams for customer delivery

Yet only 58 per cent of Australians believed big data provided a significant source of value for their organisation, a far cry from the 82 per cent reported globally. And only 34 per cent of local organisations are likely to use big data to stay competitive. This contrasted with 58 per cent of global respondents.

While 36 per cent said c-suite and management extensively understood and supported big data initiatives, half said these executives only ‘moderately’ support such projects.

“There is a clear disconnect between the confidence Australian leaders have in big data solutions, and the value these solutions can deliver, particularly as organisations look to become more digital,” commented Accenture Analytics lead for Australia, Michael Pain.

“There is a direct correlation between leadership support and big data success. So for Australian organisations to drive real business outcomes, there needs to be alignment and investment in big data solutions both at a strategic and operational level.”

Related:Accenture Analytics: Don't drop leadership intuition for analytics
CMOs, CIOs increasingly see chief customer officer as relationship saviour, finds new Accenture survey

Over the next five years, two-thirds of Australian respondents said big data will have the biggest impact by ‘changing the way we organise operations’, indicating that many are still using big data primarily for efficiency and cost reduction or within siloed business functions. Sixty-two per cent said big data will benefit ‘customer relationships’, and 52 per cent saw it contributing to ‘product development’.

More than half of Australian respondents cited budget as impeding big data projects, followed by integration with existing systems (48 per cent), security (44 per cent) and a lack of talent to run big data and analytics on an ongoing basis (42 per cent).

Globally, security was the top challenge, followed by budget. Notably, 41 per cent also cited a lack of talent to implement big data, and 37 per cent lacked the talent to run big data and analytics on an ongoing basis.

What was interesting was that 95 per cent of global respondents are relying on external help to make sense of big data. Fifty-seven per cent are using consultants to help their big data installation, 45 per cent have contracted new employees, and 34 per cent are relying on technology vendor resources to do the job.

The Accenture report is based on companies from 19 countries that have completed at least one big data implementation. Of the 2600 organisations chosen globally, executives from 1007 were interviewed between February and April this year.

Sources of big data nominated by respondents included large data files, advanced analytics or analysis, data from visualisation tools or social networks, unstructured data and geospatial/location information.

More on big data management

Signup to CMO’s email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Conversations over a cuppa with CMO: Microsoft's Pip Arthur

​In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.

More Videos

JP54,D2, D6, JetA1 EN590Dear Buyer/ Buyer mandateWe currently have Available FOB Rotterdam/Houston for JP54,D2, D6, JetA1 with good and w...

Collins Johnson

Oath to fully acquire Yahoo7 from Seven West Media

Read more

Hi This is George, Thanks for sharing this nice information about foodpanda blockchain. During this pandemic situation food delivery indu...

George David

foodpanda launches blockchain-based out-of-home advertising campaign

Read more

Did anyone proofread this document before it was published?

Beau Ushay

CMO Momentum 2020: How to embrace agile marketing

Read more

JP 54, D2, and D6 EN590,JET A1 AVAILABLE ON FOB DIP AND TEST IN SELLER TANKWe Can supply Aviation Kerosene,Jet fuel (JP 54-A1,5), Diesel ...

Collins Johnson

Oath to fully acquire Yahoo7 from Seven West Media

Read more

An honest and hardworking conveyancer doesn't need a marketing strategy. His past clients will spread the word for him. These days the ho...

Bagen Andrea

What this millennial marketer is doing to shake up conveyancing

Read more

Blog Posts

Commissioning personas that get used

How to avoid the bottom drawer, and how to get value from the work you’ve paid for

Melanie Wiese

Chief strategy officer, Wunderman Thompson

Why It’s Going To Be A Bumper Holiday Season Despite the Pandemic

Behavioural science expert Dan Monheit, co-founder and strategy director of creative agency, Hardhat, writes that marketing chiefs should hold their nerve, as they have reason to be optimistic

Dan Monheit

Co-founder, Hardhat

Why marketing and UX teams must join IT on cyber security

For far too long, cyber security has been considered the sole domain and concern of the IT department, with other departments including marketing, UX and design, firmly entrenched in the belief it is not their concern. The reality could not be further from the truth. In fact, this view is dangerous as it could lead to irreparable brand damage and a lack of trust in consumer behaviour.

Nicki Doble

CIO, Cover-More Group

Sign in